Navneet Education surges on BSE

Board meeting to consider and approve proposal to buy back shares

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Navneet Education, formerly known as Navneet Publications (I), is in the business of educational, children and general books publication, scholastic paper and non-paper stationary products.

Navneet Education rose 5.46% to Rs. 124.6 on BSE after the company scheduled a board meeting on 20 August 2018, to consider and approve a buyback proposal of its equity shares. The announcement was made on 13 August 2018. Meanwhile, the S&P BSE Sensex was up 136.79 points or 0.36% at 37,781.69.

On the BSE, 71,000 shares were traded on the counter so far against the average daily volumes of 44,000 shares in the past two weeks. The stock had hit a high of Rs. 127.05 and a low of Rs. 120.35.

The stock hit a 52-week high of Rs. 179.85 on 18 September 2017, and a 52-week low of Rs. 108.60 on 27 July 2018.

Navneet Education reported 15.18% growth in net profit to Rs. 126.29 crore at 17.72% growth in total income to Rs. 677.05 crore in Q1 June 2018 over Q1 June 2017.